Indications by the FMA Liechtenstein

10.10.2019 - Warning notice regarding Smart Valor AG

The Financial Market Authority Liechtenstein (FMA) points out that Smart Valor AG, Vaduz, registration number FL-0002.596.088-9, has not been licensed by the FMA. Smart Valor AG is not authorized to provide financial services subject to licensing in and from Liechtenstein.

Especially, Smart Valor AG is not a “Licensed Exchange”, as stated on the website https://smartvalor[dot]com/en/valor-platform.

The FMA urgently advises to only do business subject to authorisation with financial firms that are authorised by the FMA or other national authorities. Please find all information regarding regulated entities in Liechtenstein in the public register of licensees on the FMA website.

27.09.2019 - Notice with regard to Neufund / Fifth Force (Liechtenstein) GmbH

In a media release dated 16 September 2019, Fifth Force (Liechtenstein) GmbH (Neufund) claims that the platform has received approval from the Financial Market Authority Liechtenstein (FMA) to carry out public offers with a minimum deposit of only CHF 10 and is thus accessible to various investors, including retail investors.

The FMA points out that the FMA has not granted the Fifth Force (Liechtenstein) GmbH, Vaduz, registration number FL-0002.609.744-9, (New Fund), such approval. The Fifth Force (Liechtenstein) GmbH does not have a supervisory license from the FMA and offers by Fifth Force (Liechtenstein) GmbH are therefore not subject to supervision by the FMA. As the operator of the website https://neufund.org/, Fifth Force (Liechtenstein) GmbH is not authorized to provide financial services subject to licensing in and from Liechtenstein.

The Fifth Force (Liechtenstein) GmbH and its offers are not supervised. To date, the FMA has no knowledge that the Fifth Force (Liechtenstein) GmbH carries out activities requiring a license.

Update (3 October 2019): On the basis of FMA‘s notice with regard to Neufund / Fifth Force (Liechtenstein) GmbH dated 27 September 2019, Neufund / Fitfth Force has published a corrigendum of its media release.

05.09.2019 - Notice regarding LCX AG

The Financial Market Authority Liechtenstein (FMA) points out that LCX AG, Vaduz, registration number FL-0002.580.678-2, has not been licensed by the FMA and has not submitted an authorization request to the FMA, and therefore the operator of the website www.lcx.com is not allowed to provide any financial services that are subject to authorisation under Liechtenstein law.

The FMA informs that an approval is only issued following a formal licensing procedure. According to its Website LCX AG is in the process of applying for an OTF/MTF licence under MIFID II and a banking license according to the Liechtenstein Banking Act. According to the „LCX Vision Paper“ on its Website LCX AG, headquartered in Vaduz, Liechtenstein, is applying to Financial Market Authority (FMA) Liechtenstein for a Full-Banking license.

19.06.2019 - Warning notice: www[dot]maponos-invest[dot]com

The Liechtenstein Financial Market Authority (FMA) points out that there is no connection between the operators of the website www[dot]maponos-invest[dot]com and Maponos Invest AG, Schliessa 6, 9495 Triesen, Commercial Register No. FL-0002.479.687-7. The operators of the website do not have a FMA authorisation and are therefore not allowed to provide any financial services that are subject to authorisation under Liechtenstein law.

The FMA urgently advises not to make any investments via the website www[dot]maponos-invest[dot]com nor responding to any investment offers made by this company or against transferring money to any account number they might mention. Wrongful claiming the identity of an actually existing company is an attempt to obtain assets that may result in the investor's total loss of the supposed investment.

The FMA strongly advise to only deal with financial firms that are authorised by the FMA or other national competent authorities. Please find all the information regarding regulated entities in Liechtenstein in the public register of licensees on our website.

 

18.06.2019 - Warning notice

The Liechtenstein Financial Market Authority (FMA) points out that LOOiX AG, Vaduz, registration number FL-0002.601.150-6, has not been licensed by the FMA, and therefore as the operator of the website www[dot]looix[dot]io is not allowed to provide any financial services that are subject to authorisation under Liechtenstein law.

The FMA informs that an approval is only issued following a formal licensing procedure. Contrary to the information in its Whitepaper on LOOiX’ website and in the article “E-Sports, Online-Glücksspiel und Blockchain – Die ungenutzte Chance“ of 4 June 2019 LOOiX AG has not obtained any regulatory approval for its business model and the structure of the LOOiX token by the FMA.

The FMA urgently advises to only deal with financial firms that are authorised by the FMA or other national authorities. Please find all information regarding regulated entities in Liechtenstein in the public register of licensees on the FMA website.

28.05.2019 - Warning of clone firm: becofinancement(dot)com

The operators of the website https://www(dot)becofinancement(dot)com (or a similar form) are purporting to be an investment and financing trust named BeCoFin Trust domiciled in Liechtenstein.

In the interest of clarification the Financial Market Authority (FMA) Liechtenstein informs that there is no connection between www(dot)becofinancement(dot)com and Becofin Trust reg. (c/o Audax Consulting Trust Est., Rätikonstrasse 13, 9490 Vaduz, Commercial Register No. FL-0002.478.083-1). The operators of https://www(dot)becofinancement(dot)com do not have an FMA authorization or a domicile in Liechtenstein.

The FMA urgently advises not to make any investments via the website https://www(dot)becofinancement(dot)com.

28.03.2019 - Warning

In the past, there have been several cases in which persons or companies offering FinTech products or services gave the impression that they had been granted a licence by the FMA even though they had received no such licence.

For this reason, the FMA once again would like to point out that all financial intermediaries licensed by the FMA are listed in a publicly accessible register. This also applies to securities prospectuses approved by the FMA.

The FMA also would like to point out the following:

  • The FMA does not express any judgements regarding business models, initial coin offerings, or security token offerings. Statements to that effect on websites and in the media are therefore incorrect.
  • The FMA does not issue any "non-action letters". This term does not exist in the Liechtenstein legal system.
  • When queried, the FMA comments only on existing licensing, prospectus, and due diligence obligations under the special laws referred to in Article 5(1) of the FMA Act. Beyond that, the FMA does not comment on the legal compliance of business models.
20.03.2019 - Warning notice: https://solu-trade(dot)com

The Financial Market Authority (FMA) Liechtenstein points out that Solu Trade as the operator of the website https://solu-trade(dot)com does not have a FMA authorisation and is therefore not allowed to provide any financial services that are subject to authorisation under Liechtenstein law.

The FMA urgently advises against making any investments via the website https://solu-trade(dot)com, responding to any investment offers made by this company or transferring money to any account number they might mention.

The FMA strongly advises to only deal with financial firms that are authorised by the FMA or other national competent authorities. Please find all the information regarding regulated entities in Liechtenstein in the public register of licensees on our website.

  • Warning notice published by the Estonian Financial Supervision Authority
26.02.2019 - Warning notice: Moneeda AG and extauri[dot]com

The Financial Market Authority (FMA) Liechtenstein points out that Moneeda AG, Schaan, as the operator of the website extauri[dot]com is not authorized to provide financial services in Liechtenstein.

The FMA points out that the financial products, offered by Moneeda AG on the website, were not approved under financial market law.

It is highly recommended not to invest on the website extauri[dot]com or react to offers made by Moneeda AG.

25.01.2019 - Warning notice: https://olzgroup(dot)com

The Financial Market Authority (FMA) Liechtenstein points out that there is no connection between the operators of the website https://olzgroup(dot)com and OLZ Wealth Management AG, Bahnhofstrasse 7, 9494 Schaan, Commercial Register No. FL-0002.215.531-7. The operators of the website do not have a FMA authorisation and are therefore not allowed to provide any financial services that are subject to authorisation under Liechtenstein law.

The FMA urgently advises not to make any investments via the website https://olzgroup(dot)com nor responding to any investment offers made by this company or against transferring money to any account number they might mention. Wrongful claiming the identity of an actually existing company is an attempt to obtain assets that may result in the investor's total loss of the supposed investment.

The FMA strongly advise to only deal with financial firms that are authorised by the FMA or other national competent authorities. Please find all the information regarding regulated entities in Liechtenstein in the public register of licensees on our website.

22.10.2018 - Reference to fake insurance policies

The Liechtenstein Financial Market Authority (FMA) was informed by SIKURA LEBEN AG, an insurance company based in Liechtenstein, that fake insurance policies have been issued under the name of SIKURA LEBEN AG in the Italian market. Before concluding an insurance policy, the FMA recommends to look for irregularities and to check whether the insurance intermediary has the required authorization. In case of uncertainties it is recommended to contact the insurance company or the responsible supervisory authority.

05.04.2018 - Warning notice: www(dot)jtcapitalmanagement(dot)com

The operators of the website www(dot)jtcapitalmanagement(dot)com (or a similar form) are purporting to be a company domiciled in Ruggell, J&T Capital Management Anstalt, c/o Gantner & Hasler Treuhandanstalt, Industriestrasse 105A, 9471 Ruggell, Commercial Register No. FL-0002.116.628-6.

The Financial Market Authority (FMA) Liechtenstein points out that there is no connection between www(dot)jtcapitalmanagement(dot)com and J&T Capital Management Anstalt. www(dot)jtcapitalmanagement(dot)com is wrongfully using the name and identity of the aforementioned Liechtenstein company. The operators of the website do not have an FMA authorisation and are therefore not allowed to provide any financial services that are subject to authorisation under Liechtenstein law.

The FMA urgently advises not to make any investments via the website www(dot)jtcapitalmanagement(dot)com nor responding to any investment offers made by this company or against transferring money to any account number they might mention. Wrongful claiming the identity of an actually existing company is an attempt to obtain assets that may result in the investor's total loss of the supposed investment.

We strongly advise to only deal with financial firms that are authorised by the FMA or other national competent authorities. Please find all the information regarding regulated entities in Liechtenstein in the public register of licensees on our website.

27.02.2018 - Warning notice: Unique Global Investment

The Financial Market Authority (FMA) Liechtenstein warns the public against the activities of Unique Global Investment. Unique Global Investment pretends to offer banking and/or investment services in Liechtenstein (e.g. via social media platforms such as Facebook).

The FMA calls attention to the fact that the operators of ugi[dot]direct are not in possession of an authorisation from the FMA and are therefore not allowed to provide any financial services that are subject to authorisation under Liechtenstein law.

The FMA strongly discourages the public from making any investments via the website ugi[dot]direct. The FMA strongly advises against responding to any investment offers made by this company and against transferring money to any account number they might mention. We strongly advise to only deal with financial firms that are authorised by the FMA or other national competent authorities. Please find all the information regarding regulated entities in Liechtenstein in the public register of licensees on our website, http://register.fma-li.li.

The above-mentioned company has already been subject to warnings by foreign supervisory authorities (Financial Market Authority FMA (Austria) and Federal Financial Supervisory Authority BaFin (Germany)).

31.05.2017 - Warning of clone firm: Mera Finanz

The operators of the website www.merafinanz.com (or a similar form) are purporting to be managing an investment fund named Mera Finanz domiciled and supervised in Liechtenstein.

The Financial Market Authority (FMA) Liechtenstein points out that contrary to the claim made by the operators, www.merafinanz.com is not a Liechtenstein investment fund. All Liechtenstein investment funds are subject to approval by the FMA and are listed in the official register of the FMA.

In the interest of clarification the FMA informs that there is no connection between www.merafinanz.com and MERA FINANZ ANSTALT (Unterfeld 24, 9495 Triesen, Commercial Register No. FL-0001.505.062-3). The operators of www.merafinanz.com do not have an FMA authorization or a domicile in Liechtenstein.

The FMA urgently advises not to make any investments via the website www.merafinanz.com. Wrongful claiming of supervised investment funds is an attempt to obtain assets that may result in the investor's total loss of the supposed investment.

31.05.2017 - Warning notice: Questra Holdings Inc./Questra World Ltd./Atlantic Global Asset Management

The Financial Market Authority (FMA) Liechtenstein warns the public against the activities of Questra Holdings Inc., Questra World Ltd. and Atlantic Global Asset Management, both companies pretend to offer banking and/or investment services in Liechtenstein (e.g. via social media platforms such as Facebook). 

The FMA calls attention to the fact that the operators of www.questraworld.es, www.questraholdings.com, www.questrateam.net and www.atlanticgam.es (or a similar form) are not in possession of an authorisation from the FMA and are therefore not allowed to provide any financial services that are subject to authorisation under Liechtenstein law.

The FMA strongly discourages the public from making any investments via the website www.questraworld.es, www.questraholdings.com, www.questrateam.net and www.atlanticgam.es (or a similar form). The FMA strongly advises against responding to any investment offers made by these companies and against transferring money to any account number they might mention. We strongly advise to only deal with financial firms that are authorised by the FMA or other national competent authorities. Please find all the information regarding regulated entities in Liechtenstein in the public register of licensees on our website, http://register.fma-li.li.

The above-mentioned companies have already been subject of several warnings by foreign supervisory authorities (Financial Market Authority FMA (Austria), Financial Conduct Authority FCA (United Kingdom), Financial Supervision Authority KNF (Poland), National Securities Markets Commission CNMV (Spain) and Financial Services and Markets Authority FSMA (Belgium)).

17.11.2016 - Warning of clone firm

The operators of the website www(dot)datafin1985(dot)com (or a similar form) are purporting to be a company domiciled in Triesen, DATAFIN INTERNATIONAL ANSTALT, 9495 Triesen, Commercial Register No. FL-0001.093.573-8.

The Financial Market Authority (FMA) Liechtenstein points out that there is no connection between www.datafin1985.com and DATAFIN INTERNATIONAL ANSTALT. www(dot)datafin1985(dot)com is wrongfully using the name and identity of the aforementioned Liechtenstein company (clone firm). The operators of www(dot)datafin1985(dot)com do not have an FMA authorization or a domicile in Liechtenstein.

Contrary to the claim made by the operators, www(dot)datafin1985(dot)com is not a Liechtenstein investment fund. All Liechtenstein investment funds are subject to approval by the FMA and are listed in the official register of the FMA.

The FMA urgently advises not to make any investments via the website www(dot)datafin1985(dot)com. Claiming the identity of an actually existing company is an attempt to obtain assets that may result in the investor's total loss of the supposed investment.

06.10.2016 - Warning notice: crown-ag(dot)com

The Liechtenstein Financial Market Authority (FMA) points out that the operators of the website crown-ag(dot)com do not have any authorisation granted by the FMA and are not domiciled in the Principality of Liechtenstein. 

The operators of the website crown-ag(dot)com are purporting to be a provider of banking services. They also falsely claim to be domiciled in Liechtenstein. The commercial register extract that is currently in circulation for “Crown Ag Bank” is counterfeit.

The FMA urgently advises the public not to use any services offered via the website crown-ag(dot)com.

24.02.2016 - Warning notice: www.launtonwealth.com

The operators of the website www.launtonwealth.com (or a similar form) are purporting to be a brand of an authorized insurance intermediary company in Liechtenstein, Finanz-Control Anstalt, Heiligkreuz 52, 9490 Vaduz, Commercial Register No. FL-0001.536.585-0. The operators of www.launtonwealth.com do not have an authorization of the Financial Market Authority (FMA) Liechtenstein or a domicile in Liechtenstein. The FMA points out that there is no connection between www.launtonwealth.com and Finanz-Control Anstalt.

The FMA points out that the operators of www.launtonwealth.com are not allowed to provide any financial services that are subject to authorization.

The FMA urgently advises not to make any investments via the website www.launtonwealth.com. Claiming the connection with an actually existing company is an attempt to obtain assets that may result in the investor's total loss of the supposed investment.

08.07.2015 - Warning notice: www.thomasloppacher.com

The operators of the website www.thomasloppacher.com (or a similar form) are purporting to be a company domiciled in Liechtenstein. The operators of www.thomasloppacher.com are neither in possession of an authorisation by the Financial Market Authority (FMA) Liechtenstein, nor are they domiciled in Liechtenstein.

The FMA urgently advises not to make any investments via the website ww.thomasloppacher.com. By claiming to be an existing Liechtenstein company, the operators of www.thomasloppacher.com aim to obtain assets from investors. Investors risk the total loss of these supposed investments.

Warning notice of the Financial Conduct Authority (FCA) of the United Kingdom

11.03.2015 - Warning notice: www.rentinokredit.com

The operators of the website www.rentinokredit.com (or a similar form) are purporting to be a company domiciled in Vaduz, RENTINO KREDIT Anstalt, c/o BONATREVI Treuhand-Anstalt, Auring 52, 9490 Vaduz, Commercial Register No. FL-0001.026.598-8.

The FMA points out that there is no connection between www.rentinokredit.com and RENTINO KREDIT Anstalt. www.rentinokredit.com is wrongfully using the name and identity of the aforementioned Liechtenstein company. The operators of www.rentinokredit.com do not have an FMA authorization or a domicile in Liechtenstein.

The FMA urgently advises not to make any investments via the website www.rentinokredit.com. Claiming the identity of an actually existing company is an attempt to obtain assets that may result in the investor's total loss of the supposed investment.

12.12.2014 - Warning notice: www.robert-finance.com

The operators of the website www.robert-finance.com (or a similar form) are purporting to be a company domiciled in Schaan, Robert Finance Corporation Aktiengesellschaft, c/o Seeger & Seeger Treuunternehmen, Kirchstrasse 6, 9494 Schaan, Commercial Register No. FL-0001.063.691-3.

The FMA points out that there is no connection between www.robert-finance.com and Robert Finance Corporation Aktiengesellschaft. www.robert-finance.com is wrongfully using the name and identity of the aforementioned Liechtenstein company. The operators of www.robert-finance.com do not have an FMA authorization or a domicile in Liechtenstein.

The FMA urgently advises not to make any investments via the website www.robert-finance.com. Claiming the identity of an actually existing company is an attempt to obtain assets that may result in the investor's total loss of the supposed investment.

26.09.2014 - Warning notice: Martin Kessler Global Resource Advisors has not been licensed by the FMA as an asset management company

The Liechtenstein Financial Market Authority (FMA) alerts that Martin Kessler Global Resource Advisors is not in possession of any authorisation by the FMA and does not have a registered office in Liechtenstein. Martin Kessler Global Resource Advisors is not authorised to provide any financial services and is not authorised to collect money or other assets. The company pretends to be domiciled in Liechtenstein and to provide services according to the Law on Asset Management (AMA).

02.07.2014 - Warning notice: Rolf Muller has not been licensed by the FMA as an asset management company

The Financial Market Authority Liechtenstein (FMA) points out that Rolf Muller (formerly Rolf Muller Finance) does not have any authorisation granted by the FMA, in particular with the Law on Asset Management (Asset Management Act; AMA) and the MIFID Directive (2004/39/EC). Accordingly the company is not authorised to provide or convey business according to the AMA:

  • portfolio management;
  • investment advice;
  • reception and transmission of orders concerning one or more financial instruments; and
  • recommendation relating to transactions in financial instruments that directly serve the purpose of customer care.

Rolf Muller is not authorised to collect money or other assets. The company does not have a registered office in Liechtenstein. The FMA already published a warning notice regarding Rolf Muller Finance on 20 March 2014.

20.03.2014 - Warning notice: Rolf Muller Finance has not been licensed by the FMA as an asset management company

The Financial Market Authority Liechtenstein (FMA) points out that Rolf Muller Finance does not have any authorisation granted by the FMA, in particular with the Law on Asset Management (Asset Management Act; AMA) and the MIFID Directive (2004/39/EC). Accordingly the company is not authorised to provide or convey business according to the AMA:

  • portfolio management;
  • investment advice;
  • reception and transmission of orders concerning one or more financial instruments; and
  • investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments that directly serve the purpose of customer care.

Rolf Muller Finance is not authorised to collect money or other assets. The company does not have a registered office in Liechtenstein.

25.09.2012 - Repeated notice by the FMA concerning «Projekt Leontopodium»

In light of the recent increase in complaints concerning «Projekt Leontopodium» (www.leontopodium.org), the FMA Liechtenstein again states that «Projekt Leontopodium» is not registered in Liechtenstein. The website of «Projekt Leontopodium» and the used endowment insurance policies advertised there draw on Liechtenstein's sovereign emblems.

For the information of consumers and to prevent confusion, the FMA again states that the trading of used insurance policies by «Projekt Leontopodium» is not supervised by the FMA and that the FMA has no detailed knowledge of «Projekt Leontopodium».

27.07.2012 - Notice: DGS Marine Group SA / The European & Overseas P&I Insurance

The Financial Market Authority Liechtenstein (FMA) advises that information available on websites which led to the communication dated 23 July 2012 concerning DGS Marine Group SA (Schaan) and The British European & Overseas P&I Insurance have been adjusted.

However, the FMA points out that still both companies have no license by the FMA Liechtenstein to conduct insurance business or provide insurance intermediary services in or out of Liechtenstein.

23.07.2012 - Warning notice concerning DGS Marine Group / British European Overseas P&I

DGS Marine Group SA/The British European & Overseas P&I Insurance have no licence of the FMA Liechtenstein to provide insurance business or insurance intermediary services

The Liechtenstein Financial Market Authority (FMA) alerts that neither DGS Marine Group SA, with headquarters in Schaan, nor the British European Overseas P&I (BE&O) have a license to conduct insurance business or provide insurance intermediary services in or out of Liechtenstein. Activities pursuant to the Insurance Supervision Act and to the Insurance Mediation Act require a regulatory licence by the FMA. Via its homepage, the impression was given that DGS Marine Group SA provides insurance business as an “Agent to the Manager” of the BE&O.

25.05.2011 - Warning notice: ElanFX.com and / or Impala Setton Ltd. customer’s accounts are not subject to Liechtenstein banking law

The Financial Market Authority (FMA) Liechtenstein hereby communicates, that the customer’s accounts at ElanFX.com and/or Impala Setton Ltd. (1 Mapp Street, Belize City, Belize) are not subject to Liechtenstein banking law.

ElanFX.com, a direct subsidiary of Impala Setton Ltd., is according to its website a broker for trading in Forex, CFD and Commodities. In its general terms and conditions ElanFX.com purports that the customer’s assets would be received by a Liechtenstein bank and kept separate from the broker’s accounts. The customer’s account would be subject to Liechtenstein banking law which would offer the following advantages: deposit protection up to 100 000 Swiss Francs (CHF), no foreign notification duties/discretion, no transaction fees. Moreover ElanFX.com purports to be supervised under the authority of the Financial Service Supervision Department (FSSD) of the Central American state Belize according to the regulation standards of the Central Bank of Belize.

The Liechtenstein bank mentioned by ElanFX.com in its general terms and conditions does not have any association with ElanFX.com and/or Impala Setton Ltd.

ElanFX.com and Impala Setton Ltd. are not licensed in Liechtenstein to provide any banking or securities services. 
Moreover ElanFX.com is not supervised by the Central Bank of Belize or the International Financial Services Commission of Belize. ElanFX.com and Impala Setton Ltd. are not licensed by any competent authority in Belize to engage in the business of Forex, CFD or Commodity trading.

Please also refer to the warning notice issued by the International Financial Services Commission, Belmopan, Belize: http://www.ifsc.gov.bz/

25.02.2012 - Warning Notice: Master Vision of Banks has not been licensed by the FMA as a financial company

The Financial Market Authority Liechtenstein expressly points out that Master Vision Group of Banks, Hong Kong, has not been licensed by the FMA in Liechtenstein.

According to its website (mvgbs.com), Master Vision Group of Banks offers financial services and products, wealth management, individual and tailored investment advice and portfolio diversification with investment funds. These activities are subject to a licence in Liechtenstein pursuant to the Banking Act and other applicable supervisory laws. Until today the FMA has not granted any licence to Master Vision Group of Banks.

The executive office in Liechtenstein mentioned on the website of Master Vision Group of Banks does not exist and it was not possible to establish a personal contact.

 

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